Watts Water Technologies, Inc. $WTS Stock: Inspire Investing LLC Raises Stake

Key Points

• Inspire Investing increased its Watts Water Technologies stake by 279.7% during the third quarter, bringing its holdings to 6,816 shares valued at approximately $2.4 million. Institutional investors collectively own 95.02% of the company.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $371.90. Target prices from major firms range from $374 to $445.
• Watts Water Technologies reported quarterly revenue of $763.2 million and EPS of $3.66, exceeding analyst expectations, while revenue grew 18.6% year over year. The company also pays a quarterly dividend of $0.63 per share, yielding about 0.7%.

Inspire Investing LLC lifted its stake in Watts Water Technologies, Inc. (NYSE:WTS - Free Report) by 279.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,816 shares of the technology company's stock after purchasing an additional 5,021 shares during the quarter. Inspire Investing LLC's holdings in Watts Water Technologies were worth $2,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Apollon Wealth Management LLC boosted its stake in Watts Water Technologies by 1.5% in the 1st quarter. Apollon Wealth Management LLC now owns 2,702 shares of the technology company's stock worth $784,000 after purchasing an additional 40 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its position in Watts Water Technologies by 6.6% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 729 shares of the technology company's stock valued at $258,000 after purchasing an additional 45 shares during the last quarter. GAMMA Investing LLC increased its stake in Watts Water Technologies by 11.4% during the 2nd quarter. GAMMA Investing LLC now owns 478 shares of the technology company's stock valued at $187,000 after purchasing an additional 49 shares in the last quarter. Cetera Investment Advisers increased its stake in Watts Water Technologies by 2.9% during the 1st quarter. Cetera Investment Advisers now owns 1,818 shares of the technology company's stock valued at $528,000 after purchasing an additional 52 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in Watts Water Technologies by 8.6% during the 1st quarter. Kestra Advisory Services LLC now owns 706 shares of the technology company's stock valued at $205,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 95.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WTS shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $417.00 target price on shares of Watts Water Technologies in a research note on Wednesday, October 14th. Robert W. Baird set a $405.00 price objective on shares of Watts Water Technologies in a report on Friday, August 7th. Stifel Nicolaus set a $445.00 price objective on Watts Water Technologies in a research report on Monday, October 19th. The Goldman Sachs Group reiterated a "neutral" rating and set a $374.00 target price on shares of Watts Water Technologies in a research note on Friday, August 7th. Finally, Barclays lifted their target price on Watts Water Technologies from $414.00 to $425.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $371.90.

Watts Water Technologies Price Performance

WTS opened at $358.86 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.60 and a current ratio of 2.66. The stock has a market capitalization of $11.98 billion, a P/E ratio of 31.34, a P/E/G ratio of 3.49 and a beta of 1.15. The company's 50-day simple moving average is $359.54 and its two-hundred day simple moving average is $340.48. Watts Water Technologies, Inc. has a 52-week low of $260.00 and a 52-week high of $394.54.

Watts Water Technologies (NYSE:WTS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The technology company reported $3.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.32. Watts Water Technologies had a net margin of 14.34% and a return on equity of 19.16%. The firm had revenue of $763.20 million for the quarter, compared to the consensus estimate of $725.99 million. During the same quarter last year, the firm posted $3.09 EPS. The business's quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts predict that Watts Water Technologies, Inc. will post 12.87 EPS for the current year.

Watts Water Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 1st. This represents a $2.52 dividend on an annualized basis and a yield of 0.7%. Watts Water Technologies's dividend payout ratio is 22.01%.

Insider Buying and Selling

In related news, Director Joseph Noonan sold 3,650 shares of the firm's stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $353.72, for a total value of $1,291,078.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Elie Melhem sold 1,096 shares of the firm's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $359.55, for a total transaction of $394,066.80. Following the completion of the sale, the insider owned 7,867 shares in the company, valued at $2,828,579.85. This represents a 12.23% decrease in their position. The SEC filing for this sale provides additional information. 1.00% of the stock is owned by corporate insiders.

About Watts Water Technologies

Watts Water Technologies, Inc designs, manufactures and sells products that manage the safety, efficiency, quality and flow of water in plumbing, heating and cooling systems. Its products serve residential, commercial, industrial and institutional applications, including new construction, renovation and infrastructure projects.

The company's offerings include backflow prevention and water pressure management equipment, valves, regulators, drainage and plumbing products, water conditioning and filtration systems, water heaters, and solutions for hydronic heating and cooling.

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